I don't know what bothers me more - that Greenspan supports the nationalization of US banks, or that he's referred to as "the high priest of laissez-faire capitalism."

http://www.ft.com/cms/s/0/633ab364-fd5e-11dd-a103-000077b07658.html

The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman has told the Financial Times. In an interview with the FT, Mr Greenspan, who for decades was regarded as the high priest of laissez faire capitalism, said that nationalisation could be the least bad option.

"It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring," he said. "I understand that once in a hundred years this is what you do."

Mr Greenspan's comments capped a frenetic day in which policymakers across the political spectrum appeared to be moving towards accepting some form of bank nationalisation.

"We should be focusing on what works," Lindsey Graham, a Republican senator from South Carolina, told the FT. "We cannot keep pouring good money after bad." He added, "If nationalisation is what works, then we should do it."